Genius Sports (NYSE:GENI) Earns Market Perform Rating from JMP Securities

Genius Sports (NYSE:GENI)‘s stock had its “market perform” rating reissued by JMP Securities in a research note issued on Monday,Benzinga reports. They presently have a $11.00 price objective on the stock. JMP Securities’ price objective suggests a potential upside of 24.72% from the company’s current price.

Several other analysts also recently issued reports on GENI. The Goldman Sachs Group lifted their price target on Genius Sports from $8.50 to $11.50 and gave the company a “buy” rating in a research note on Thursday, November 14th. Benchmark lifted their target price on Genius Sports from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Macquarie upped their price target on Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Oppenheimer lifted their price objective on shares of Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, B. Riley increased their target price on shares of Genius Sports from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Genius Sports has a consensus rating of “Moderate Buy” and an average target price of $10.94.

Genius Sports Price Performance

NYSE GENI opened at $8.82 on Monday. The stock’s 50-day moving average is $8.84 and its 200-day moving average is $7.61. Genius Sports has a one year low of $4.91 and a one year high of $10.33. The firm has a market cap of $2.02 billion, a P/E ratio of -27.56 and a beta of 2.15.

Genius Sports (NYSE:GENI) last announced its earnings results on Tuesday, November 12th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.06. The firm had revenue of $120.20 million for the quarter, compared to the consensus estimate of $118.94 million. Genius Sports had a negative net margin of 15.84% and a negative return on equity of 14.11%. The business’s quarterly revenue was up 18.2% on a year-over-year basis. During the same period last year, the company posted ($0.06) EPS. Equities analysts anticipate that Genius Sports will post -0.16 EPS for the current year.

Institutional Trading of Genius Sports

A number of large investors have recently added to or reduced their stakes in GENI. FMR LLC raised its holdings in shares of Genius Sports by 53.2% in the 3rd quarter. FMR LLC now owns 7,219,874 shares of the company’s stock valued at $56,604,000 after purchasing an additional 2,507,165 shares during the period. Divisadero Street Capital Management LP acquired a new position in Genius Sports during the second quarter worth approximately $11,233,000. Massachusetts Financial Services Co. MA raised its stake in Genius Sports by 28.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 6,828,803 shares of the company’s stock valued at $37,217,000 after buying an additional 1,502,958 shares during the period. Bank of Montreal Can acquired a new stake in shares of Genius Sports in the second quarter valued at approximately $6,575,000. Finally, Rice Hall James & Associates LLC bought a new position in shares of Genius Sports during the 2nd quarter worth approximately $5,521,000. Institutional investors and hedge funds own 81.91% of the company’s stock.

About Genius Sports

Genius Sports Limited engages in the development and sale of technology-led products and services to the sports, sports betting, and sports media industries. It offers technology infrastructure for the collection, integration, and distribution of live data of sports leagues; streaming solutions comprising technology, automatic production, and distribution for sports to commercialize video footage of their games; and end-to-end integrity services to sports leagues, such as full-time active monitoring technology, which uses mathematical algorithms to identify and flag suspicious betting activity in global betting markets, as well as a full suite of online and offline educational and consultancy services.